Conference/Public Meeting Agenda/Documents — Packet

1,08.5 1.09 1.09.1 1,10.1 1.10.2 1.10.3 The successful Respondent shall commence the work upon receipt of a written Notice-to-Proceed ftom the Township of West Orange, which shall be issued within 15 calendar days following the execution of the Contract by both parties. Insurance Before commencing work, the respondent shall furnish the Township of West Orange with insurance certificate copies providing evidence of coverage. The Insurance requirements are specified in Section 2.24, Performance Bond and Insurance. The Respondent shall maintain the above coverage in force for the duration of the contract. The coverages under Section 2.24 shall be endorsed to include the Township of West Orange as additional insured for the duration of the Contract. Bid Proposal Security Each proposal must be accompanied by a bid security in the form of a ~-eertified- check from-the- Respondent; or a “bid: bond” included in Sectien=- 3.0, herein, or on a similar form, duly executed by the Respondent as principal and by a reputable surety company rated A+ or better by A.M. Best Company’s Insurance Rating licensed to do business under the laws: of and in the State of New Jersey and satisfactory to the Township of West Orange, as Surety. The amount of the bid security shall be ten (10%) percent of the Total Contract Amount indicated in the Proposal Form, not to exceed $20,000. The bid security will be held by the Township of West Orange as security for fulfillment of the Respondent's Promises, as set forth in this Proposal, that he will not withdraw his Proposal while it is being considered and that he will execute the Contract and furnish all required bonds, insurances, and other documentation required within the specified time, shall forfeit the bid security. The Respondent to which the Contract has been awarded, upon his failure or refusal to execute the Contract or to deliver the bonds, insurances or other documentation required within the specified time, shall forfeit the bid security. Consent of Surety, Performance and Payment Bond Each proposal must be accompanied by a Consent of Surety signed by a surety company stating that if the Respondent’s proposal is accepted the surety company which provides the Consent shall be required to furnish a Performance and Payment Bond in the amount as specified in Section 2.24. Such surety company will provide the

l is accepted the surety company which provides the Consent shall be required to furnish a Performance and Payment Bond in the amount as specified in Section 2.24. Such surety company will provide the Respondent with bonds 10